6,746 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd purchased a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,746 shares of the construction company's stock, valued at approximately $830,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after purchasing an additional 895,227 shares in the last quarter. Hood River Capital Management LLC lifted its stake in MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company's stock valued at $127,773,000 after buying an additional 446,762 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock worth $94,096,000 after buying an additional 279,778 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $79,494,000. Finally, Marshall Wace LLP grew its position in shares of MasTec by 4.3% during the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company's stock worth $76,828,000 after buying an additional 29,631 shares during the period. Institutional investors own 78.10% of the company's stock.

MasTec Stock Up 0.5 %

MasTec stock traded up $0.65 during midday trading on Friday, hitting $141.92. 626,990 shares of the stock were exchanged, compared to its average volume of 855,663. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 126.71 and a beta of 1.72. MasTec, Inc. has a 52-week low of $60.96 and a 52-week high of $150.12. The business's 50-day moving average price is $133.39 and its 200-day moving average price is $117.55.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,823 shares of company stock worth $7,493,301. Insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of several research analyst reports. TD Cowen increased their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Citigroup raised their target price on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Truist Financial raised MasTec from a "hold" rating to a "buy" rating and upped their price target for the stock from $133.00 to $173.00 in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price objective on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.62.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.